Going on the hunt for your next premium luxury car is always a thrill. But what you don’t want is to get overwhelmed or stuck in your decision-making process. By figuring out whether signing a car lease or taking out a loan to purchase a car is right for you, our experts at Lyon-Waugh Auto Group will be able to help you with either process. When to Lease A popular option for luxury motorists, leasing means you actually don’t have to pay the full price of the car to drive it off of our lot. Instead, you’ll make payments based on the depreciation of the car over time. As a result, your monthly payments and down payment won’t be as high as your loan payments would be. However, you still get all of the best technology, most advanced performance, and most up-to-date styling available for the road. And while you’ll be subject to mileage caps, they tend to set around the average mileage people drive each year anyway. When to Buy Buying will be the option for you if your plan is to own the car outright and build equity in it. Even though your payments will be higher than they would be if you leased the car, you won’t have to make payments towards the cost of the car once you pay the loan off in full. Making a purchase also gives you the freedom to put as many miles on your luxury car without thinking about fees tacked on for breaking a mileage cap. You can also make modifications to your car when you buy it as well – and of course, you’ll be able to sell your car later on. Visit our New England luxury car dealerships today to learn more about the benefits of buying and leasing and to figure out which option is right for you.
